Swamp Notes: Is the US economy really K-shaped?

Swamp Notes: Is the US economy really K-shaped?

Author: Financial Times January 2, 2026 Duration: 19:04

Imagine a graph with one line going up over time. Below it, another line does just the opposite. It kind of looks like the letter K. On the FT's Swamp Notes podcast, Claire Jones and Rob Armstrong break down why people are saying that letter represents the state of the economy and what it means for the White House.


Mentioned in this podcast:

Does the K-shaped economy theory even make sense?

Email Marc with your questions (Marc.Filippino@FT.com)

Sign up for the FT’s Swamp Notes newsletter here


This is a repeat of an episode published on Swamp Notes, a sister podcast of Political Fix, on Nov. 28, 2025. Follow the Swamp Notes podcast to hear more.


Swamp Notes is hosted by Marc Filippino, and produced by Henry Larson. This week’s show was mixed by Sam Giovinco. The FT’s acting co- head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.


The FT does not use generative AI to voice its podcasts.


CREDIT: Bloomberg, PBS, CNN


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Every Friday, the team behind Political Fix gathers to make sense of the week's political turbulence. This isn't just a recap of headlines; it's a deep, often lively conversation that pulls back the curtain on how decisions are really made in Westminster and beyond. You'll hear from the Financial Times journalists who are actually there, in the corridors and committee rooms, paired with expert voices who provide crucial context. Together, they untangle complex policy debates, analyse the shifting alliances, and question the strategies defining Britain's future. The result is a clear-eyed, authoritative look at the forces shaping the nation, delivered with the FT's signature rigor and insight. Tuning into this podcast feels like gaining access to a private briefing, one that prioritizes substance over noise. It’s for anyone who wants to move past the soundbites and understand the real stories and personalities driving the political agenda. New episodes arrive weekly, offering a consistent and essential perspective on a landscape that never stops moving.
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